Makkah Real Estate Market Overview - H1 2018
Announced late last year by the Public Investment Fund, Rou’a Al Haram Al Makki will be the latest mega project in Makkah. Spanning 854,000 sq m, the mixed-use development will play an important role in boosting Makkah’s economy and diversifying the country’s economic base.
It is estimated the project will contribute SAR 8 billion (USD 2.1 billion) to national GDP annually once operational. In addition, it will boost the city’s capacity to host pilgrims, contributing to the 2030 Vision’s target of attracting 30 million Umrah pilgrims annually.